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Funerals: Pre-payment

Treasury written question – answered on 25th July 2019.

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Photo of Kevin Brennan Kevin Brennan Shadow Minister (Digital, Culture, Media and Sport) (Arts and Heritage)

To ask the Chancellor of the Exchequer, what plans he has to bring pre-payment funeral plans under the regulation of the Financial Conduct Authority in line with other financial products.

Photo of Rishi Sunak Rishi Sunak The Chief Secretary to the Treasury

HM Treasury launched a call for evidence on the regulation of pre-paid funeral plans in June 2018. The call for evidence has confirmed that consumer detriment is present in the pre-paid funeral plan sector and that there is broad demand for the sector to come under compulsory regulation.

Consequently, the government intends to bring the pre-paid funeral plan market within the remit of the Financial Conduct Authority and is currently consulting on the proposed legislative framework to implement this proposal. This will allow the FCA to establish a robust regulatory regime which will apply to all funeral plan providers, and improve protection for consumers.

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